Economic-Financial Audit and its Impact on The Internal Control Of The FCPC- Unemployment and Retirement Fund for Teachers of the State Technical University of Quevedo. Period 2018 - 2019

Abstract

In Ecuador, the Closed Supplemental Pension Funds are private, non-profit institutions, with legal status, economic independence, their associates are participants whit a contract and definitive appointment, their voluntary affiliation; Created to generate savings among its participants and provide them whit benefits and credits, currently 62 active founds are under the administration of the Bank of the Ecuadorian Social Security Institute (BIESS) and regulated by Superintendence of Bank and Insurance (SBS). The present investigative work was carried out in the Closed Supplementary Pension and Retirement Found for Teachers of the Quevedo State Technical University located in the province of Los Rios, Sunday Manuel Haz Alvarez campus; focused on the incidence of an Economic-Financial audit and its effect on Internal Control which allowed to know the current situation of the entity, for this an on-site investigation of the financial information was carried out for the execution of the financial indicators in the period from 2018 to 2019, which presented a decrease in proprietary investments of 9% compared to the previous year and an increase in the liquidity ratio of 17%, on the other hand, in the evaluation of the internal control components, it revealed the degree intervention of the control and administration entities in the current regulations that exercise the Fund.